CBS Throw Jab at Stephen Colbert for Losing $40 Million

CBS released a pointed note about Stephen Colbert’s exit, highlighting a new time-buy model with Byron Allen that shifted an hour historically losing about $40 million annually to a $15 million profit—a $55 million swing. The network said the arrangement moves the Late Show's slot into a partnership that will be managed by Allen’s company, which will handle selling all ads. Colbert’s farewell preceded Allen’s Comics Unleashed in the same time slot. Allen has stated the program will avoid politics and sensitive topics, signaling CBS’s pivot away from Colbert’s previous, more political approach toward a broadly comedic format.